300 Cherry Street is a +/- 17,165 SF building which has over $2.1 million in Tenant improvements to date. On 3.09 acres, it has a market value based on Comparable properties of $85 PSF or $1,459,000.
Current Tenant Harvest desires to execute its option to purchase the property from current owner for $1.4 M and plans expansion of 20,000 SF. There will be a set aside of $700,000 for this Construction that is included in the sale price. In addition, the tenant will add improvements to the Greenhouse addition in equipment needed to operate the MMJ facility at the tenants expense.
MMJ License registered to the Property will be pledged as additional collateral to the mortgage. This facility is operated by Harvest as a Medical Grade Marijuana Grow location that has some of the best Micro-Climates for the Cultivation.
It is strategically located to distribute to the following Markets:
- 12 miles from 1 -17
- 18 miles from Sedona
- 30 miles from Prescott
- 40 miles from Flagstaff
- 85 miles from Phoenix